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Higashimaru fiscal Q3 profit climbs YOY

Higashimaru Co.Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was ¥39.45 per share, an increase from ¥38.52 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥185.6 million, an increase from ¥181.3 million in the year-earlier period.

The normalized profit margin declined to 4.8% from 5.6% in the year-earlier period.

Total revenue climbed 19.8% on an annual basis to ¥3.90 billion from ¥3.25 billion, and total operating expenses increased 21.4% year over year to ¥3.62 billion from ¥2.98 billion.

Reported net income came to ¥164.0 million, or ¥34.86 per share, compared to ¥163.0 million, or ¥34.64 per share, in the prior-year period.

As of Feb. 15, US$1 was equivalent to ¥114.50.